By Karen Axelton

Where can a small business get financing? There are really only three places, Jim Blasingame notes in Forbes: equity investments, retained earnings or borrowing.

Blasingame, founder of The Small Business Advocate, polled his radio, online and newsletter followers asking: “In terms of using a loan to capitalize business growth, which of these four options are you more likely to choose?” Here’s what respondents said:

  • A national or large regional bank: 13%
  • Credit unions: 22%
  • Independent community banks: 31%
  • “We don’t need no shtinking bank loan!”: 34%

Clearly, small businesses are not happy with large banks. Blasingame believes they’re wise to lean towards local and community banks and credit unions, with which they can develop closer relationships.

As to why so many small businesses don’t want the “shtinking” loans, Blasingame theorizes:

“This group is either among that two-thirds of small businesses that polls show are not experiencing growth, or are among the other third that are growing but have learned how to do so more organically.”

In today’s economy, that’s a smart move.